Merchants Bancorp (MBIN) to Issue Quarterly Dividend of $0.10 on April 1st

Merchants Bancorp (NASDAQ:MBIN) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.10 per share on Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, March 14th. This is an increase from Merchants Bancorp’s previous quarterly dividend of $0.09.

Merchants Bancorp has raised its dividend payment by an average of 14.5% annually over the last three years. Merchants Bancorp has a dividend payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Merchants Bancorp to earn $5.95 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 6.1%.

Merchants Bancorp Stock Performance

Shares of Merchants Bancorp stock opened at $41.47 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.15 and a quick ratio of 0.85. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 6.57 and a beta of 1.15. The firm’s fifty day simple moving average is $39.01 and its 200-day simple moving average is $41.18. Merchants Bancorp has a 12 month low of $34.16 and a 12 month high of $53.27.

Merchants Bancorp (NASDAQ:MBIN) last announced its quarterly earnings data on Monday, February 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.58. Merchants Bancorp had a net margin of 22.08% and a return on equity of 22.86%. As a group, equities analysts forecast that Merchants Bancorp will post 5.54 earnings per share for the current year.

Analysts Set New Price Targets

MBIN has been the topic of several recent research reports. Raymond James reissued an “outperform” rating and issued a $53.00 price objective (up from $50.00) on shares of Merchants Bancorp in a research note on Thursday, January 30th. Piper Sandler boosted their target price on shares of Merchants Bancorp from $52.50 to $56.50 and gave the stock an “overweight” rating in a research report on Thursday, January 30th.

Insiders Place Their Bets

In related news, insider Scott A. Evans sold 25,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $43.10, for a total value of $1,077,500.00. Following the sale, the insider now directly owns 27,606 shares in the company, valued at $1,189,818.60. The trade was a 47.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 39.70% of the company’s stock.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.